外国直接投资与经济增长的中国：从两模型中得到的证据外文翻译.docVIP

外文翻译 原文 Title: Foreign Direct Investment And Economic Growth In China:Evidance From A Two-Sectormodel Material Journal of Financial Management Analysis，2010-10 uthor:Ping Yu，Chen, K. C.XiaoJin Sun The relationship between the introduction of foreign capital and Chinas economic growth has been analyzed by many scholars. Niu showed that the inflowof FDI presented a daunting challenge to Chinas macroeconomic and regulatory systems from the demand side and had a significantly positive impact on Chinas economic growth from the supply side.Jordan,Tian, and Sun documented a bidirectional causality relationship between Chinas industrial production growth and utilization of foreign capital.They argued that China could maintain a steady economic growth mainly because of using the combination of foreign capital and domestic resources.Shen and Geng built an endogenous growth model with a spillover effect of foreign capital.Their result indicated that the increase of FDI inflow fueled Chinas economic growth rate,but not vice versa. Zhao ,using qualitative and quantitative analyses,established a model describing the relationship between FDI and major macroeconomic indicators to study the impact of FDI inflow on Chinas economic growth.Sang presented a theoretical model based on the new growth theory and concluded that the increase of FDI inflow was positively related to economic growth. However,the increase of FDI could not be considered as the only reason for economic growth.On the contrary, Chinas economic growth could also attract FDI inflows. Whalley and Xin assessed the contribution of inward FDI to Chinas recent rapid economic growth using a two stage growth accounting approach.Their results indicated that Chinas foreign-invested enterprises, which are joint ventures between foreign companies and Chinese enterprises,might have contributed over 40 per cent of Chinas economic growth in 2003 and 2004,and without the inward FDI,Chinas overall GDP growth rate could have been 3.